Category Archives: Benalec

Stocks to Watch: Benalec, Cliq, GOB, Malton, Tuneins, Ytlland

Despite distribution activities happening in a few index-linked stocks, the market sentiment was pretty good today, with a huge number of shares breaking above their short-term swing high after ‘testing the supply” (VSA methodology). In case you don’t understand, it means BULLISH, BULLISH, BULLISH! Let’s skip the talking and look straight at the chart of some of these counters.

benalecBenalec – Closed above RM1.37, forming a Double Bottom.

Stock to Watch: Benalec [5190]

Led by panic selling across Asia market (WHY? Click here to find out), KLCI gapped down by 15 points in the evening session, widening the difference in the number of gainers and losers. Instead of making an analysis on the local index, we shall discuss on the price movement of Benalec, a good stocks to trade because it is one of the most “obedient” shares that respect all the main supports and resistances. Also, since the share price has been moving sideway for 2,3 years (long-term trend), its effective trading range is clearly provided and thus the price movements are more predictable in the intermediate term. Let’s begin our analysis.